Sign In
Free Newsletter
U.Va. alumni make $5M gift to fund professorship
University of Virginia alumni Donna and Richard Tadler made a gift of $5 million that will be used to create a professorship of entrepreneurship at their alma mater, U.Va. President Jim Ryan announced earlier this month. The gift will be matched with $5 million more from the university’s Bicentennial Professorship Fund, for a total investment […]
Former MUFG Americas head tapped as next Va. finance sec
Stephen Emery Cummings, who retired in March as the president and CEO of Mitsubishi UFJ Financial Group (MUFG) in the Americas, has been chosen as Virginia’s next secretary of finance, Gov.-elect Glenn Youngkin announced Wednesday. “Lowering taxes and restoring fiscal responsibility in Richmond is a primary focus of our [...]
Virginia named top business climate in U.S. by Business Facilities
Business Facilities magazine, a trade publication that focuses on corporate site selection and economic development, has named Virginia first in the nation for its overall business climate, Gov. Ralph Northam announced Tuesday. The state joins fellow honorees Tennessee (recognized for best dealmaking) and Massachusetts, recognized for its workforce and educational system in Business Facilities’ annual […][...]
47 mixed-use parcels in Richmond sell for almost $22M
Seven bundles of properties totaling 47 parcels in Richmond sold for almost $22 million, Commonwealth Commercial Partners LLP announced last week. The mixed-use properties are located in Richmond’s Fan District and consist of retail, office and restaurant space, as well as about 24 apartments and 267 parking spaces. Richmond-b[...]
Virginia Beach, Manassas apartment complexes sell for $77.6M
An apartment complex in Virginia Beach sold for $52.1 million, and an apartment building in Manassas for $25.5 million, Alexandria-based real estate company Bonaventure announced Monday. Sitting on 19.83 acres, Magnolia Run is a 200-unit, 421,272-square-foot apartment complex in Virginia Beach with two- and three-bedroom units, [...]
Merrick named as state’s next commerce secretary
Caren Merrick, the CEO of Virginia Gov.-elect Glenn Youngkin’s nonprofit Virginia Ready Initiative, has been chosen to serve as Virginia’s next secretary of commerce and trade, Youngkin’s campaign announced Tuesday. Before leading VA Ready, a role in which she managed $10 million in public and private funding t[...]
Dominion orders 176 turbines from Siemens Gamesa
Dominion Energy Inc. has ordered 176 offshore wind turbines from Siemens Gamesa Renewable Energy S.A. for its 2.6-gigawatt, $9.8 billion Coastal Virginia Offshore Wind project, the utility announced Monday. The Richmond-based Fortune 500 utility declined to release financial details of the contract. The SG 14-222 DD turbines —[...]
EVMS, ODU and Sentara sign health center agreement
Eastern Virginia Medical School, Old Dominion University and Sentara Healthcare entered into a memorandum of understanding Friday to work toward a collaborative academic health center. Officials from each institution will cooperate to improve health care disparities in Hampton Roads and to seek more consistent funding of EVMS fr[...]
Va. unemployment rate dropped to 3.4% in November
In November, Virginia’s unemployment rate fell to 3.4%, 0.2 points below October’s rate, marking 18 straight months of declines, Gov. Ralph Northam announced Friday. In November 2020, the jobless rate was 2.4 points higher than last month. The labor force increased by 2,706 to almost 4.26 million, and the number of unemployed residents decreased by 8,627 […]
Q&A: Quebec official discusses Va. trade mission
Quebec’s delegate general in New York, Martine Hébert, visited Virginia this week on a trip to strengthen economic relations between her province and the commonwealth. Appointed in August by Quebec Premier François Legault and based out of New York, Hébert is responsible for promoting the province’s economic interests in [...]
Cvent goes public again
Tysons-based event software company Cvent Holding Corp. began trading on the Nasdaq Global Market Dec. 9 after closing its merger the day before with San Francisco-based SPAC Dragoneer Growth Opportunities Corp. II. The move is Cvent’s second time going public. In 2016, Vista Equity Partners acquired it for $1.65 billion and t[...]
Northam proposes $2.1B in tax cuts for ‘working people’
Virginia Gov. Ralph Northam, who leaves office next month, proposed four tax cuts Tuesday, including eliminating Virginia’s 1.5% sales tax on groceries and providing an income tax cut for low- and middle-income Virginians. He also proposed one-time tax rebates — $250 for individuals and $500 for married couples — and e[...]
